57% more rooms to rent

There is good news and bad news for those looking for a room. The supply of this type of accommodation has increased by 57% in a year, but prices have also increased, according to an analysis published by idealista.

The average rent for a room is now around 450 euros per month.

When analyzing the data on room supply by city, it can be seen that the stock has increased quite significantly over the last year, with most increases exceeding 25%. The largest increase was in Castelo Branco (112%), followed by Lisbon and Porto (both 76%), Viseu (51%), Coimbra (40%), Santarém (29%), Vila Real (24%), Braga (5%), Viana do Castelo (3%) and Leiria (1%). Of the cities considered, the publication of advertisements for rooms for rent decreased in Funchal (-73%), followed by Évora (-36%), Setúbal (-15%), Faro (-14%), Aveiro (-11%) and Guarda (-5%).

Despite the increase in supply, prices for rental rooms have increased in all the cities studied. Prices rose most in Funchal on Madeira, where rooms were 60% more expensive than a year ago. This was followed by Faro (33%), Aveiro (29%), Viseu (25%), Setúbal (22%), Évora (20%), Guarda (18%), Porto (17%), Braga (17%), Leiria (12%) and Castelo Branco (10%). With price increases of less than 10%, Santarém (9%), Viana do Castelo (8%), Coimbra (7%), Lisbon (6%) and Vila Real (2%) followed.

Lisbon remains the city with the most expensive rooms in Portugal, where average prices are around 550 euros per month, followed by Porto (445 euros per month), Funchal (400 euros per month), Faro (400 euros per month), Setúbal (365 euros per month), Aveiro (360 euros per month), Braga (350 euros per month), Évora (335 euros per month), Viana do Castelo (325 euros per month), Coimbra (300 euros per month) and Santarém (300 euros per month).

On the other hand, of the entire sample analyzed, Guarda (177 euros per month), Castelo Branco (222 euros per month), Vila Real (235 euros/month), Viseu (250 euros per month) and Leiria (280 euros per month) are the cheapest cities to rent a room.

Not just for students

The data published in this report show that renting a room is not only a housing option for students, but is also an increasingly preferred option for young people in their early years on the labour market and, in some cases, even beyond.

The current reality of the Portuguese rental market in big cities makes it difficult for many single or separated people to afford the cost of an apartment, for example, which is why renting a room is the cheapest housing option.

On the other hand, living in a shared flat remains an attraction for many young people who want to be independent and leave their parents’ home. This trend is likely to increase in the coming years, given not only the need for greater mobility, but also the price of buying a house, the cost of living and the level of mortgage interest rates.